This new framework enables a practice to develop a clear profile, among both clients and professionals, and formulate a coherent strategy for itself. After all, good strategy is about knowing who you are and making the right choices.
A practice’s ability to deliver value to clients rests on the skills of its professionals, and the skill set of those professionals affects the choice of clients. In turn, the clients being served affect the development of the professionals’ skills. The strategy of a practice therefore is tightly linked to its clients and the professionals serving them. Whom a practice hires affects the clients it can serve, the clients it serves affect how the skills of its professionals evolve, how the skill set evolves affects the clients the practice can acquire in the future, and the cycle keeps repeating.